Sunday , January 24 2021

Diageo sells 19 US Sazerac brand for $ 550 million – Magazine – Manufacturers



Diageo, a UK company for the production of premium alcoholic drinks, announced that it sold 19 brand portfolios of Sazerac in the United States. The transaction price is $ 550 million (£ 427 million), Reuters reported. This list includes three types of Whiskey brands: Segram, Romana Sambuca, and Booth (Booth's ginned). The acquisition is subject to regulatory approval and is expected to be completed in early 2019.

The sale allowed Diageo to focus on premium products in the United States. The proceeds of this transaction, which are expected to reach £ 340 million, will be returned to shareholders by repayment of the shares. Past booths were popular in the UK, but production was discontinued in 2017.

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